I’ve been watching CL on the H1 timeframe and honestly this chart tells a pretty clear story. After the dip around the 17th–18th December area, price found solid support near the lower Bollinger Band and started building higher lows. That slow grind higher turned into a cleaner bullish move as candles stayed above the short-term moving averages. You can see how every pullback was getting bought, which is usually a good sign that bulls are in control, at least intraday. Right now price is hovering around the 58.20–58.40 zone, which looks like a short-term consolidation area. The upper Bollinger Band has flattened a bit, suggesting momentum is cooling after the recent push. RSI is sitting around the mid-40s to 50 area, not overbought at all, but also not screaming strong momentum. For me, that means the market is catching its breath rather than reversing aggressively.
The key level I’m watching is the 57.70–57.80 support zone. That level acted as resistance earlier and now looks like it has flipped into support. As long as price stays above that area on H1 closes, the bullish structure is technically still intact. A clean break below it could open the door for a deeper pullback toward 57.20 or even the mid Bollinger Band. On the upside, 58.70–58.90 is the immediate resistance. We’ve already seen price struggle to push cleanly above that zone. If bulls manage a strong hourly close above it with volume, I wouldn’t be surprised to see a continuation toward the 59.20 area. But without momentum, breakouts here can easily turn into fake moves. Overall, I’m neutral to slightly bullish in the short term. This feels like a market where patience pays. Chasing buys at the top of the range doesn’t make much sense to me. I’d rather see a pullback into support or a confirmed breakout before committing. For scalpers, the range is tradable, but for swing traders, waiting for clarity is probably the smarter play. Just my view, trade safe and manage risk.
Also, keep an eye on news and inventory data because CL loves to spike unexpectedly. Even the best technical setup can fail when fundamentals hit the tape. Adjust position size, respect stops, and don’t marry a bias. The chart gives clues, not guarantees, so flexibility is key in this kind of environment. That mindset helps traders survive longer and stay consistent over time in volatile markets too.
